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1st LD: Chinese shares tumble during morning session

Xinhua, July 15, 2015 Adjust font size:

Chinese shares plunged on Wednesday morning despite better-than-expected second-quarter economic growth.8 The benchmark Shanghai Composite Index dived more than 3 percent at one point and then made up ground, ending the morning session 2.4 percent lower at 3830.49.

The newly released economic growth rate, which stood at 7 percent in the second quarter and beat a median market forecast of 6.9 percent, failed to buoy the stocks.

The fall extended a retreat seen on Tuesday, when the Shanghai index dipped 1.16 percent, reversing a rebound that had lasted for three consecutive trading days. Endi